GST view: Don’t link input credit to tax payment by supplier – The Economic Times

The Goods & Services Tax is a game changer for the economy. The new tax regime promises to simplify tax compliance, eliminate tax on tax, make it easier to do business across states, reduce prices and dramatically increase the tax base.

Inspite of its enormous promise, the present drafting of the law and rules have problems which can cause disruption. Particularly, the small and medium businesses are vulnerable to these clauses, and are in potential danger of being driven out of business.

via GST: GST view: Don’t link input credit to tax payment by supplier